Wednesday, 19 July 2017

FG releases N243.795billion Paris Club refund to 36 states

 


Details of the second round of Paris Club refunds to 36 states including federal capital territory has just been released by the federal government.


In a statement released by the Director of Information in the Federal Ministry of Finance, Mr Salisu Dambatta, the total payments shared among the states are N243.795 billion.

The states that got the highest payment includes Rivers, Kano, Delta, Bayelsa and Akwa Ibom while Gombe and FCT, Abuja got the lowest with N4.472bn, and  N684 million respectively.

According to the statement, the President approved the payment on May 4 in partial settlement of long-standing claims by state governments relating to over-deductions from their Federation Account Allocation Committee (FAAC) allocation for external debt service arising between 1995 and 2002.

The Minister of Finance, Mrs Kemi Adeosun, explained that these debt service deductions were in respect of the Paris Club, London Club and Multilateral debts of the federal governments and states.
While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some states had already been overcharged.

The funds, disbursed to states as part of efforts by the Federal Government to boost the economy, are aimed at enabling the states to pay salaries and meet other obligations, the statement said.

“The releases were conditional upon a minimum of 75 per cent being applied to the payment of workers’ salaries and pensions for states that owe salaries and pension,” it added. The Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by State Governments.

In addition to reviewing the impact of these releases on the level of arrears owed by state governments, the Finance Ministry said, “A detailed report is being compiled for presentation to the Acting President, Professor Yemi Osinbajo, as part of the process for approval for the release of any subsequent tranches.”

Below are details of how the money was shared:
S/N STATE AMOUNT PAYABLE (NGN)
1 ABIA 5,715,765,871.48
2 ADAMAWA 6,114,300,352.68
3 AKWA-IBOM 10,000,000,000.00
4 ANAMBRA 6,121,656,702.34
5 BAUCHI 6,877,776,561.25
6 BAYELSA 10,000,000,000.00
7 BENUE 6,854,671,749.25
8 BORNO 7,340,934,865.32
9 CROSS RIVER 6,075,343,946.93
10 DELTA 10,000,000,000.00
11 EBONYI 4,508,083,379.98
12 EDO 6,091,126,592.49
13 EKITI 4,772,836,647.08
14 ENUGU 5,361,789,409.66
15 GOMBE 4,472,877,698.19
16 IMO 7,000,805,182.97
17 JIGAWA 7,107,666,706.76
18 KADUNA 7,721,729,227.55
19 KANO 10,000,000,000.00
20 KATSINA 8,202,130,909.85
21 KEBBI 5,977,499,491.45
22 KOGI 6,027,727,595.80
23 KWARA 5,120,644,326.57
24 LAGOS 8,371,938,133.11
25 NASARAWA 4,551,049,171.12
26 NIGER 7,210,793,154.95
27 OGUN 5,739,374,694.46
28 ONDO 7,003,648,314.28
29 OSUN 6,314,106,340.62
30 OYO 7,901,609,864.25
31 PLATEAU 5,644,079,055.41
32 RIVERS 10,000,000,000.00
33 SOKOTO 6,441,128,546.76
34 TARABA 5,612,014,491.52
35 YOBE 5,413,103,116.59
36 ZAMFARA 5,442,385,594.49
37 FCT 684,867,500.04

TOTAL 243,795,465,195.20

Share this

0 Comment to "FG releases N243.795billion Paris Club refund to 36 states"

Post a Comment